The Rise of Video Marketing
“If a picture paints 1,000 words, then one minute of video is worth 1.8 million.”
Video marketing is gradually taking its place as one of the most effective marketing strategies in the world today. When the Internet was born a couple of years ago, the idea of using images, especially videos, as a powerful marketing tool was non-existence. The story is different now.
A report by CISCO, a network Corporation, shows that videos will make up 85% of internet traffic in the North America continent by 2020. This is corroborated by another report by YouTube, a video-viewing site that its user base runs into over a billion users. That is how powerful using videos as marketing tools have become. The question is how did we get there? How did videos become a powerful marketing tool? To find answers to these questions, let’s consider the rise of video marketing.
The social media gave popularity to the increasing use of videos for marketing purposes. From YouTube to Facebook, Snapchat to Instagram, the increasing use of videos on these platforms have contributed positively to the astronomical rise of using videos to reach the hearts and minds of consumers, with the objective of influencing their purchasing decisions. The success of this strategy is confirmed by some outstanding statistics. Facebook is gradually overtaking YouTube as the platform with the highest minutes of videos watched while Snapchat records billions of daily views. Twitter is not relenting too. It has taken the social media by surprise as more users watch tons of videos on the platform. Collectively, they are responsible for the increasing popularity of videos as the ideal marketing tool, although they make their contributions in different ways. Let me discuss these platforms one after the other and their individual and collective contributions to the rise of video marketing.
YouTube set the pace in online video distribution. When the platform was launched in 2005, hardly did the owners know they were launching a platform that will set the standards in video distribution, the first step in the use of videos for marketing purpose.
At the present, over 300 hours worth of videos in different niches are uploaded toYouTube every minute. YouTube has made it possible for people to grow their brands and reach new audiences by promoting their products or services with via promotional videos on the site. Regardless of what product or service you are interested in, you will find tons of valuable promotional videos on YouTube. This has led to a change in people’s perspective towards the rise of video marketing.
While YouTube pioneered the distribution and viewing of videos, Facebook has taken that aspect of marketing to another level. The Facebook management has brought a lot of new innovations into the platform, making it the leader when it comes to video distribution. For instance, Facebook has a video ad product which makes sales and response very easy. What about the embedding options, view count, video for website conversions and others. They are a proof of the commitment of the social media site to the promotion of videos. Marketers have also found Facebook to be the leading data company in the world. These two and other related factors have made Facebook worthy of your money if you are into marketing.
Even if you promote your product via YouTube, it is advisable that you put the videos on Facebook for increased distribution. Otherwise, you will lose better distribution and relevancy. This is because uploading the video directly on Facebook increases your chances of your target audience seeing the video. This is great because you are reaching your consumers, and not wasting people’s time needlessly. What does this involve?
It means you will go beyond posting a link to the video on YouTube to your Facebook account to update your status. Rather, you need to upload the video directly to Facebook so that you can always have the video on your Facebook page. Since this has been more productive, it is considered ideal to always do this.
Twitter has gone beyond the perfect tool for tweets. It has added an engaging tune to its use with the introduction of the video feature. This has made it more convenient for users to connect and engage with others on the platform.
The gradual increase in the user base of Twitter also contributes to the popularity of videos. With over 300 million active monthly users, Twitter has a good user base that increases the potential for any video to be seen by millions of users, especially if used for promotional purpose.
Snapchat is one of the latest additions to the ever-growing social media community. Nevertheless, the social media platform enjoys a success rate that was never imagined. For instance, over 60% of Americans aged 13 to 34 uses Snapchat while over two billion videos are viewed daily on the platform.
Due to the short lifespan of any video uploaded on the platform, people have a sense of urgency to see valuable videos before they disappear. Marketers all over the world are turning to Snapchat as an avenue to reach a huge number of potential customers due to some of the amazing features of the platform. One of the features includes the ability of users to receive whatever content they need from any media company. Some of these companies include ESPN, National Geographic, and more.
The result of the rise of video marketing
According to a couple of researches, almost half of consumers (46%) make a purchase after viewing a video about a product. The stat that YouTube has over a billion users while some billions more are spread over the other social media sites lends credence to this study.
By leveraging the powers of the individual platforms, marketers are having a good shot at getting their products to billions of potential and established customers across the globe.
That has, in no small measure, contributed to the astronomical growth of video as a means of marketing goods and services. Some statistics by a group of researchers highlights the impact of these platforms on marketing over the years. Key stats are:
More than 50% of people watch online recordings consistently.
Half of all the activities on the Internet now include online video.
85% of people using videos for promotion observed that it is greatly fruitful.
7 out of 10 advertisers believe that video has more transformational influence than other substances.
The number of buyers who prefer to watch the promotional video of an item is more than 4 times the number of consumers who want to read about the item.
What does the future look like?
It is expected that videos will form the larger chunk of the total consumer internet traffic in the near future. This conclusion was reached by Cisco due to their conviction that video traffic demand is expected to almost treble shortly as revealed by some studies. All indicators are suggesting a rapid growth in the demand for videos in the future.
Many studies have also reported that videos remain the undeniable future of content marketing. The studies reveal that more than 50% of companies are already leveraging video to promote their services – this figure is predicted to rise more as there is an increased awareness about the possibilities offered by video marketing. Of course, with over 64% of marketers throwing their weights behind videos to be the dominant strategy in the future, the rise of acceptance of videos is expected to keep rising.
According to some Forrester researchers, “If a picture paints 1,000 words, then one minute of video is worth 1.8 million.” It is not surprising, then, that 70% people have a favorable disposition towards a brand after they have watched interesting videos about the brand.
In the UK, a third of all Britons watch a minimum of a video weekly. This translates to over 20 million Britons alone. There is hardly any other content that can promise such an amazing traffic.
The potential impact of videos on campaigns has also contributed to this amazing growth. For instance, Volkswagen embarked on a campaign recently. A trio of the videos used by this auto company garnered a combined view of over 155 million views. You can imagine the effect of videos on the awareness and patronage of this company. Some companies have more impressive viewership from videos, a testament to the efficacy of videos as a good channel of promotion. What is responsible for the mammoth growth?
Benefits of video marketing
The rise of video marketing is possible due to some of the attractive qualities of video marketing. Some of them include these:
It boosts conversion rates: The ability of videos to boost conversion rates is one of the outstanding benefits if using them to promote goods and services. According to Hubspot, when you include video on your landing page, that can boost your conversions by 80%. When you watch good videos, you may be influenced to make a purchase or order services. This gives better conversion than reading the promotion alone. It has also been discovered that when you convey the right emotions to your buyers through videos, it is a powerful tool to reach their hearts.
It boosts email campaign success: It becomes increasingly difficult for people to open their emails and read your email campaign. When you use a video to promote your service or goods, the story is different. When you include videos in your email, it leads to a whopping 200-300% increase in the success rate.
It encourages social shares: The ability of consumers to share videos is a great plus for your business. According to a study, 92% of consumers on mobile share informative videos with others. This increases the chances of your video to go viral. With the increased popularity of social media as discussed previously, you can’t overlook the importance of getting your video shared on these platforms. This will have a huge positive effect on your product as more people will be aware of the product or service and will be willing to pay for it.
Videos entertain, educate, and inspire: The impact of videos on consumers makes videos very important. It is easy and convenient for consumers to spend two minutes to watch a video that has the tendency to educate them about a product they wish to purchase. Videos help viewers to learn more about a product than text, photos, or audio.
Videos are easily searchable: Getting your brand to your potential consumers is one way to increase your sales. There is not a better way to do this than to include videos in your marketing strategy. A study revealed that search engines favor videos over photos and texts. The implication is that including a video in your promotion will get you found better than when your promotion is devoid of promotional videos. This is also supported by the fact that YouTube is ranked the second largest search engine after Google. Remember, billions of people watch millions of videos on the platform daily. Therefore, any video you share on that platform or others has a potential to outperform texts.
Videos are relatively easy to make: Making a video has never been easier than now. With your smartphone, you can shoot a good promotional video and edit it with video-editing software. This makes it easy to convey more information in lesser time with the goal of reaching more people quickly.
The world is ever-changing and the marketing industry is not an exception. This has turned the attention of marketers to the new marketing trend; video marketing. With the constant improvement in technology, the rise of video marketing does not seem to abate in coming years. With the future of the marketing strategy brighter than before, you should expect videos to find their ways into the marketing industry better than before. To the credit of video marketing, marketers consider it to help with conversions, increased engagement, and brand loyalty.
So, as the rise of video marketing increases, be ready to welcome the change. It will help your brand to improve significantly which will also lead to increased patronage.